The SR353 million ($94.1 million) project includes the construction of a luxury serviced apartments tower in the golden strip on King Fahad Road in Riyadh, which will be interiorly designed by the Italian brand Fendi Casa, said a statement.

Damac Esclusiva Luxury Serviced Apartments, a 150-metre high tower overlooking the Kingdom Tower in Riyadh, will provide refined luxurious interiors by the Italian fashion house for more than 100 luxury serviced apartments, it said.

The two companies will also partner on the interiors for exclusive private apartments in Dama Residenze in the Dubai Marina.

The project, which has already reached the first typical residential level after finishing the four podium levels is set to be completed in 2016, said the statement.

It will be managed by the company’s hospitality division, Damac Maison, a five-star hotel and personal service management company to provide the levels of luxury expected by VIP residents.